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Rescooped by Enrique Díaz from Investor Relations
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The secret trading strategy from the 1930s that hedge funders don't want you to know about

The secret trading strategy from the 1930s that hedge funders don't want you to know about | Precio & Volumen | Scoop.it
In the 1930s legendary trader Richard Wyckoff wrote a manifesto that gained him a cult following on Wall Street. Here are the key takeaways

Via Elzbieta D Jaworska
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Rescooped by Enrique Díaz from Gold and What Moves it.
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Eric De Groot: False Breakdown In Gold Shares

Eric De Groot: False Breakdown In Gold Shares | Precio & Volumen | Scoop.it

Eric De Groot:

 

"Richard Wyckoff made millions by being able to recognize false breakouts and breakdowns. He recognized that relative volume was the key to this recognition. A breakout from significant resistance (or support) on contracting volume increased the probability that price would return to the previous trading range once short-term momentum broke.

 

"Wyckoff would classify recent action in gold shares as a false break down. The gold shares generated a climax bottom on October 4th on 29.6 million shares. This bottom has been tested twice. The first test came on December 29th on 12.1 million shares or 59% contraction in volume..." click over for the rest and the graph.


Via Hal
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